New Silk Road project to change region's fate, expert says
"This is a world leading trade project which will change the fate of the countries that are to be transit points, as the duty taxes will be paid to the Central Asian, South Asian and South Caucasus countries and add money in their exchequer," the expert said on Jan. 9.
Ayub Sumbal stressed that the New Silk Road is actually a revival of the ancient Silk Road and in fact there are many projects which are its parts - land-to-land, land-to-sea and sea-to-land projects and roads, Kazinform has learnt from Trend.az .
"So, there are many countries involved in this process."
He noted that China has a dream to create One Belt, One Road to transform the global trade.
According to the expert, the New Silk Road project is very important in the current situation in Europe when the European Union is heading towards the worst disintegration in its history.
"At this time Chinese products and trade could help boost the economy of European countries. After Brexit, the situation of Europe will change, there are more countries that will be on the path to leave the EU as the economy of Europe will be at crossroad. So, the Chinese support is inevitable at this level," Ayub Sumbal said.
The analyst believes that the South Caucasus route will be the main one from China to Europe, because the region has an advantageous geopolitical situation. He noted that the New Silk Road will be beneficial for the South Caucasian countries and will help to promote trade and cultural links with other countries.
He went on to add that there is a big scope of tourism for these countries and the New Silk Road will also contribute to development of this sphere.
Speaking about Azerbaijan's role in the New Silk Road, Ayub Sumbal reminded that the country historically was a hub of the global trade. He noted that in the ancient times Azerbaijan was a gateway of trade between Asia and Europe, and Azerbaijani city of Barda was the global capital of trade.
"Azerbaijan has a great potential of becoming an integral part of the Silk Road and a doorway to Europe," the expert said.
He noted that the Chinese and Azerbaijani leadership know this potential and there is strong communication in progress to give a pragmatic approach to the New Silk Road project.